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Alice H, Solicitor/Partner

Category: Law

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Experience: Partner in national law firm

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I am wanting to start a pet sitting business, sites I have

Customer Question

I am wanting to start a pet sitting business, sites I have looked at say to consult a lawyer/accountant to talk over the type of business it will be. My preferable choices are Sole Proprietor or Limited Liability Company, how much will this consultation cost and what type of lawer do I look for?

Its not essential to get a lawyer or an accountant. Both cost money and most of the work you can do yourself.

The advantage of being a sole proprietor is that it involves less regulation than a limited company, you don't have to register your business, you don't have to form a company or deal with corporation tax. The advantage of a limited company is that if things go wrong only the company is liable and not you personally.

You will need to register for self assessment tax as a self employed person. If you are going to charge VAT then you will need to register for that also. Information about this can be found on HM Revenue and Customs website.

As far as protecting yourself is concerned you ought to think about public liability and professional liability insurance. These will cover you against any claims should there be an accident or any loss.

Apart from these formalities the rest is really down to you running your business.

However of you do want to speak to a lawyer about this then you should speak to someone who specialises in business or commercial law.

Regardless of whether you are a sole proprietor or a director in a company you will have to register with HMRC as a self employed person for self assessment tax. You will then be responsible for paying your own income tax and national insurance.

You can get more information here: http://www.hmrc.gov.uk/sa/index.htm

As a sole proprietor you do not need to register the business. A limited company has to be set up and registered with companies house.

You can get more information here:http://www.companieshouse.gov.uk/infoAndGuide/companyRegistration.shtml

Also remember that if you are handling personal data (i.e. information about your customers) you may need to register yourself with the Information Commissioner under the Data Protection Act.

You can get more information here:http://www.ico.org.uk/for_organisations/data_protection/registration

As far as liability insurance is concerned (to protect you against claims/accidents etc) you should really consider Public Liability Insurance.

Here is an example of a company which offers this service:http://www.swintoncommercial.co.uk/public-liability-insurance/

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